By Adriana Brasileiro
Nov. 28 (Bloomberg) -- Brazil’s real weakened for a second day as falling commodity prices cut into dollar inflows from the country’s exports.
Nearly two-thirds of Brazilian exports are commodities such as iron ore, coffee and crude oil.
The real weakened 0.9 percent to 2.3265 per dollar at 7:39 a.m. New York time from 2.3067 yesterday. Currency trading may be lighter today because of the U.S. Thanksgiving holiday yesterday.
The central bank bought reais in the local foreign-exchange market today to support the currency. The bank paid 2.3220 per dollar at the auction.
Commodity prices have plunged from records since the end of June. The UBS Bloomberg Constant Maturity Commodity Index has fallen 46 percent to 917.61 from a high this year of 1714.36 high on July 2.
Brazilian bonds rose, with the yield on the zero-coupon note due January 2010 falling six basis points, or 0.06 percentage point, to 14.78 percent, according to Banco Votorantim.
The yield on Brazil’s overnight futures contract for January 2009 delivery was little changed at 13.55 percent.
To contact the reporter on this story: Adriana Brasileiro in Rio de Janeiro at abrasileiro@bloomberg.net
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